Kandal M Venture Limited Announces Appointment of New Chief Executive Officer

Rhea-AI Summary

Kandal M Venture (Nasdaq: FMFC) appointed Mr. Fok Yui Kwong as Executive Director and Chief Executive Officer, effective February 1, 2026. Mr. Fok brings >16 years of senior management experience and >14 years of Hong Kong banking experience, and is an ACCA member since 2002.

The company confirmed Mr. Ngee Woon Lim ceased to serve as CEO and Executive Director effective February 1, 2026, and the board highlighted a focus on operational efficiency and execution of the company’s long-term strategy under new leadership.

Positive

• Appointment of Fok Yui Kwong as CEO effective Feb 1, 2026
• New CEO has >16 years senior management experience
• New CEO has >14 years banking experience in Hong Kong
• New CEO is an ACCA member since 2002

Negative

• Outgoing CEO Ngee Woon Lim ceased CEO and Executive Director roles effective Feb 1, 2026

News Market Reaction

+3.20%

10 alerts

+3.20% News Effect

+7.9% Peak Tracked

-14.7% Trough Tracked

+$233K Valuation Impact

$8M Market Cap

0.8x Rel. Volume

On the day this news was published, FMFC gained 3.20%, reflecting a moderate positive market reaction. Argus tracked a peak move of +7.9% during that session. Argus tracked a trough of -14.7% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $233K to the company's valuation, bringing the market cap to $8M at that time.

Data tracked by StockTitan Argus on the day of publication.

TA KHMAU, Cambodia, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced the appointment of Mr. Fok Yui Kwong as Executive Director and Chief Executive Officer, effective February 1, 2026.

Mr. Ngee Woon Lim, who has served as CEO and Executive Director, will cease to serve in both roles effective February 1, 2026. The Company extends its sincere appreciation to Mr. Lim for his leadership, dedication, and meaningful contributions during his tenure.

Mr. Fok brings a strong track record of operational and financial leadership across Asia. He has more than 16 years of senior management experience as Chief Financial Officer and Executive Director at a leading PCB manufacturing firm. He also has more than 14 years of banking experience with major financial institutions in Hong Kong. Mr. Fok holds a Bachelor of Economics from the Hong Kong University of Science and Technology and has been a member of the Association of Chartered Certified Accountants (ACCA) since 2002.

“We are pleased to welcome Mr. Fok as he steps into the CEO role and leads Kandal into its next phase of growth,” said Mr. Duncan Miao, Director and Chairman of the Board. “His deep financial expertise, operational discipline, and leadership experience make him exceptionally well-suited to guide the Company as we continue executing our long-term strategy. We are confident that under his leadership, Kandal will strengthen its capabilities, enhance operational efficiency, and drive positive developments throughout the year.”

About Kandal M Venture Limited

Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.

For more information, please visit the Company’s website at www.kandalmv.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

Contacts:

Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email: enquiry@fmfco.com.kh
Telephone: +855 23425205

Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: +1 (646) 893-5835 x2
Email: info@skylineccg.com
Website: www.skylineccg.com

FAQ

Who is the new CEO of Kandal M Venture (FMFC) and when did he start?

The new CEO is Mr. Fok Yui Kwong, who assumed the role effective February 1, 2026. According to the company, he joins as Executive Director and Chief Executive Officer to lead the next phase of the business.

What is Mr. Fok Yui Kwong’s professional background prior to joining FMFC?

Mr. Fok has more than 16 years of senior management experience and over 14 years in banking. According to the company, he served as CFO and Executive Director at a leading PCB manufacturer and held roles at major Hong Kong financial institutions.

What change occurred to FMFC’s prior CEO, Ngee Woon Lim, and when?

Mr. Ngee Woon Lim ceased serving as CEO and Executive Director effective February 1, 2026. According to the company, this departure coincided with the appointment of Mr. Fok as the new CEO.

Does the appointment of FMFC’s new CEO include any stated strategic priorities?

The board emphasized a focus on strengthening capabilities and enhancing operational efficiency under the new CEO. According to the company, leadership will continue executing the firm’s long-term strategy and pursue positive developments during the year.

What formal qualifications does FMFC’s new CEO hold?

Mr. Fok holds a Bachelor of Economics from HKUST and has been an ACCA member since 2002. According to the company, these credentials underpin his financial and operational expertise for the CEO role.